Top Whale from dogwifhat (WIF) on the Hunt! Can the Bulls Regain Control?
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The meme coin industry, led by top Solana-based project dogwifhat (WIF), has rebounded more than 7 percent in the past 24 hours to about $51.6 billion. The Bitcoin rebound to around $62k has quelled the crypto bearish sentiment triggered by heightened selling pressure.
The crypto market is yet to, however, signal full recovery as the long-term holders continue to offload their holdings. Notably, the German government and Bitcoin miners have been selling their holdings thus weighing heavily on bullish sentiment.
While top holders from Ethereum-based Shiba Inu (SHIB) and Pepe (PEPE) have been busy offloading their holding on different exchanges led by Binance, on-chain data shows a different trend on WIF.
